When commentators talk of contrarian investing they usually mean buying unloved stocks, preferably when they scream value. Owning stocks the market detests takes guts.
Another form of contrarian investing is harder: selling stocks the market loves. Having bought the stock early and been rewarded many times over, you can’t let go. Greed takes over and you forget that every stock has its price.
I know this first-hand. Whenever I identify ‘sell’ ideas, criticism follows. Some readers detest the idea of media “talking down” a company they own. Others are so blinded by the company’s success they do not recognise that its future growth is priced into the stock.